Tag: Abdul Razak Dawood

  • PM’s aide Razak Dawood encourages trade with India, calls it ‘need of the hour’

    PM’s aide Razak Dawood encourages trade with India, calls it ‘need of the hour’

    Adviser to Prime Minister (PM) Imran Khan on Commerce, Textile, Industry, and Production, and Investment Abdul Razak Dawood said that trade with India is the need of the hour and beneficial to both countries.

    Dawood said “As far as the ministry of commerce is concerned, its position is to do trade with India. And my stance is that we should do trade with India and it should be opened now.”

    “Trade with India is very beneficial to all, especially Pakistan. And I support it.”

    Earlier this month, business tycoon Mian Muhammad Mansha claimed that he is aware of backchannel diplomacy being pursued by India and Pakistan.

    Mansha further insisted that the two countries need to resolve their issues and increase trade.

    “If things improve between the two neighbours, Indian Prime Minister Narendra Modi could visit Pakistan in a month,” said Mansha.

  • Pakistan loses $250m worth of textile exports due to gas shortage

    Pakistan loses $250m worth of textile exports due to gas shortage

    Pakistan has lost $250m worth of textile exports in December 2021 when the gas supply was suspended for 15 days in the Punjab textile sector.

    Executive Director of All Pakistan Textile Mills Association (APTMA), Shahid Sattar also confirmed the loss of millions of dollars by saying that it will “never be recovered.”

    The government restored gas supply on December 29 with the supply of 75 million cubic feet per day (mmcfd) by mid-January and ensured that the supply would be increased up to the finest level after the extreme winter season was over.

    On the other hand, the sources said that the gas being supplied to the export sector is less than the government announced despite the industry purchasing gas at $9 per Metric Million British Thermal Unit (MMBTU), instead of $6.5 mmcfd during the winters.

    The ministry of Commerce sources also revealed that the smooth supply of electricity was not received by the textile mills in Punjab from the national grid due to interruptions. They further added that it is causing huge losses to the industry, which may go up to $250-400 million per month.

    The textile mills association also sent the letter to the Advisor to Prime Minister on Commerce and Textiles Abdul Razak Dawood on January 7, in which they expressed their serious concern over the interruptions in the supply of electricity.

    The letter said, “Each interruption wastes half an hour and up to two hours in restarting the machinery, resulting in losing material and rendering capacity grossly underutilized.”

    It further added that mills were currently running on 80% capacity, which signifies a 20% loss of exports. “And this adds up to losses between $250-$400 million in exports lost every month”.

  • Amazon’s entry to Pakistan expected to create thousands of jobs

    Amazon’s entry to Pakistan expected to create thousands of jobs

    Amazon has finally added Pakistan to its list of seller countries with Pakistanis now able to create accounts using Pakistani credentials and details.

    As per details, several officials including Aisha Moriani (Joint Secretary, Ministry of Commerce), Omer Gajial (Ex-Amazon Category Development Head for Amazon North America division), and Shoaib Sarwar (deputy Consul General, Consulate General Pakistan, Los Angeles) along with the team members of NECC (National Ecommerce Council) and Badar Khushnood from Pakistan Software Houses Association have played an important role in this development.

    This is a huge milestone and will transform Pakistan’s economy as more sellers from the country will visit the platform.

    Earlier, advisor to Prime Minister (PM) Iman Khan on Commerce and Trade, Abdul Razak Dawood stressed that e-commerce has changed the business practice and that Pakistan must pay attention to it.

    Besides, after COVID-19 e-commerce practices have increased by many folds, and it is a great oppertunity for women, Small and Medium Enterprises (SMEs) and entrepreneurs.

    On this occasion, Special Assitant to PM, Dr Shahbaz Gill said: “The contemporary government has achieved a milestone that the country had been unable to achieve for more than ten years.”

    “Pakistan will enter into the global market, and it will generate economic activity of millions, that will also create many employment opportunities, thank you, Imran Khan,” he added.

    In addition, Pakistan’s largest EdTech platform, Extreme Commerce has trained millions of people for Amazon selling and trading and complete e-commerce.

    The company has said that “The new era of e-commerce boom for Pakistan is about to start. Get your agencies ready for more business, aa you are about to get flooded with Pakistani manufacturers and brands who would need your services to take them to Amazon. Do your best, do not let the brand Pakistan down ever again, please.”

    In less than 24-48 hours, Pakistan will hopefully show up in the list of allowed countries for Amazon sellers. You…

    Posted by Extreme Commerce on Wednesday, May 5, 2021

  • Pakistan’s e-commerce market size increases to Rs96bn

    Pakistan’s e-commerce market size increases to Rs96bn

    Pakistan’s e-commerce marketing size has increased to Rs96 billion in the first quarter of the financial year 2021 as compared to Rs71 billion in the first quarter of the financial year 2020.

    This was informed during the fourth meeting of the National e-Commerce Council (NeCC), chaired by Abdul Razak Dawood, advisor to Prime Minister (PM) on commerce.

    NeCC is a body of representatives from the public and private sector, established under the National e-Commerce Policy approved by the cabinet in October 2019.

    According to officials, the NeCC discussed operationalisation of cross border e-commerce procedures, incentives to promote e-commerce, ways to introduce international payment services.

    Furthermore, deliberations on the mercantile stock exchange, digital on-boarding services, reports of the consultative committee on Women Economic Empowerment (WEE), e-commerce business facilitation portal, consumer protection councils, availability of broadband to remote areas, Trade Development Authority of Pakistan (TDAP) a digital transformation process, and collaboration with Small and Medium Enterprises Development Authority (SMEDA) on e-commerce related matters were also discussed.

    The Federal Board of Revenue (FBR) informed the meeting on the legal framework updates, including e-commerce rules regarding the mechanism of imports goods clearance, and return of goods policy.

    The State Bank of Pakistan (SBP) also gave a detailed presentation on efforts to promote cross-border e-commerce.

    The National Institutional Facilitation Technologies (NIFT) informed the meeting that they are developing a payment solution for cross border/international payments in collaboration with the SBP through which people outside of Pakistan will be able to pay through Paypal, Google Pay and Apple Pay. Payments within Pakistan will be processed through the help.

    NIFT said that the payment system was to become functional by the end of 2020 but the diversion of efforts towards COVID affected the plan badly.

    Meanwhile, the sub-committee on financial inclusion and digitization shared its progress of conducting three webinars for freelancers, mobile wallets, account-based solutions and card-based payments.

  • Pakistan & India to go to war over Basmati rice rights

    Pakistan is all geared up to thwart India’s attempt to obtain branding rights for Basmati rice, The News reported.

    Advisor to PM on Commerce Abdul Razza Dawood said on Friday that the government had prepared a detailed response in the matter and would submit it before the European Union (EU) Commission on December 10. 

    He hoped the Indian’s claim on Basmati rice would be rejected in totality. “The decision is expected within a one-year period,” he added.

    We are in possession of many documents which we will present as documentary proof to the EU Commission to prove Basmati rice is our brand, the advisor told The News. 

    Dawood said India’s stance on Basmati rice was impossible to prove since Pakistan possessed every proof to foil their attempt. “The first statement will be submitted on December 19, the application will be submitted in the second round.”

    “I met with the attorney general yesterday to ensure we hire a good law firm to present our Basmati case before the EU commission.”

    Basmati is a variety of long, slender-grained aromatic rice that is traditionally grown in Pakistan and India. As of 2018-19, India accounted for 65% of the international trade in basmati rice, while Pakistan accounted for the remaining 35%.

    Many countries use domestically grown basmati rice crops; however, basmati is geographically exclusive to certain districts of Pakistan and India.

  • Federal cabinet allows export of N-95, surgical masks

    Federal cabinet allows export of N-95, surgical masks

    The federal government has allowed the export of N-95 and surgical masks, said Federal Minister for Science and Technology Fawad Chaudhry.

    The federal minister tweeted to announce the development and said that these were the only last two items under the personal protective equipment (PPE) that was not allowed to be exported by the federal cabinet.

    “It would take a few days to get the notification out, but in the meantime please prepare to go full speed ahead &fulfill your orders,” said Abdul Razak Dawood.”

    Abdul Razak Dawood

    He further said that the federal government has done its part and exporters will benefit from the decision to capture a good share of the world market amid the COVID-19 crisis.

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  • Power plants installed during PML-N’s tenure helped end power crisis, says Razak Dawood

    Abdul Razaq Dawood, advisor to Prime Minister (PM) for Commerce, Textile, Industry, Production and Investment gave credit to former prime minister (PM) Nawaz Sharif for ending power crisis in the country.

    He said that the power plants that had been set up during PML-N’s previous tenure under the China-Pakistan Economic Corridor (CPEC) have reduced power shortage.

    The adviser said that work on CPEC is going on in full swing adding that CPEC remains one of the top priorities of the Pakistan Tehreek-e-Insaf (PTI) government.

    He said that the next phase of CPEC will focus on the development of industries and agriculture in the country.

    “The IPPs which were set up under the 2002 Power Policy has now agreed to alter their existing contractual agreements and to ink new power purchase agreements,” says media reports.

    Earlier on Friday, to bring down the cost of electricity production and reduce circular debt, Prime Minister (PM) Imran Khan has signed a new agreement with the independent power producers (IPPs). A memorandum of understanding (MoU) containing 13 points was signed between the two parties.

    “I congratulate the nation because we are fixing the damaged structure we inherited in our power sector.”
    said Dawood.

    The prime minister promised that he would soon introduce a package that will focus on improving the distribution system by tackling line losses and theft.

    According to the MoU, the two parties have, in the larger national interest, voluntarily agreed to provide concessions.

    It was agreed that all projects will convert their contracts to a take-and-pay basis and until then, the existing take-or-pay will continue.

  • In a first, Hugo Boss places sportswear order with Pakistan

    Amid economic woes, there is a glimmer of hope after Prime Minister Imran Khan’s Adviser on Commerce Abdul Razak Dawood announced that Germany’s luxury fashion brand Hugo Boss has placed its first order of sportswear with a Pakistani company. The fashion house is renowned across the world for its smart men’s suits. As of late, the brand has dabbled into casual and sportswear styles in order to attract young buyers.

    In a Twitter update, Dawood shared the news and congratulated Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) for their efforts.

    The 35th International Apparel Federation’s (IAF) World Fashion Convention was held in Lahore on November 12-13, 2019 in collaboration with Dutch industry association Modint.

    Meanwhile, Dawood also congratulated the exporters for their performance despite unprecedented challenges.

  • Pakistan receives export orders of face masks from US, Canada and Europe

    Pakistan receives export orders of face masks from US, Canada and Europe

    Adviser to Prime Minister (PM) on Commerce Abdul Razak Dawood has said that Pakistani exporters have received large orders of face masks from the United States (US), Canada and Europe.

    In a series of tweets on Thursday, he congratulated the exporters and termed their achievement a major breakthrough in the country’s export sector.

    “I have received information that some exporters have obtained large orders for face masks from US, Canada and Europe. This is a major breakthrough and I congratulate them for this achievement,” he tweeted.

    He further emphasised the need for Pakistani exporters to diversify into new segments in order to meet the changing global needs.

    “It is part of our strategy to diversify into new segments and this has been achieved by the exporters through their own efforts. I’m sharing this information with others to encourage them to seek more orders from different parts of the world,” he stated.

    Separately, the adviser stated that in order to achieve the target of agricultural exports, the government was striving hard to make space in the rice markets of the Middle East, North America and Africa.

    Talking to APP, he said the government intends to take the exports to the highest-ever level and in this regard, it was taking different measures to reclaim traditional markets besides getting access to new ones.

    “All members of the Rice Exports Association Pakistan (REAP) should prepare themselves for this opportunity so that they could get their orders approved in the Mexican market.”

    He further informed that rice export to Mexico was stagnant for the past few years but after the delegation’s visit, “we are hoping that our rice will be able to enter the Mexican market”.

    Dawood said that rice was the largest agro-export commodity in the country’s export basket, having a total volume of over $2 billion, which would be increased to $5 billion in the next five years.

  • Imran’s aide differs on inflation statement, says govt cannot give any timeframe

    Two days after Prime Minister (PM) Imran Khan said that his government will soon overcome inflation in the country “caused by the flawed policies of previous regimes”, his adviser on commerce, textile, industry and production, Abdul Razak Dawood, has said that no timeframe can be given in this regard.

    Addressing a public gathering in Mianwali last week, the premier said that his government had inherited multiple economic issues, including low foreign exchange reserves, a huge circular debt and fiscal as well as current account deficits.

    “Previous administration had been spending reserve dollars to stabilise and maintain the value of the local currency. The PTI [Pakistan Tehreek-e-Insaf] government had not found enough dollars to follow suit so a correction strategy followed,” he said.

    The premier also blamed rupee devaluation for inflation, adding that his government had nothing to do with it and the genie will soon be put back in the bottle.

    Speaking at a prize distribution ceremony at the concluding day of three-day 11th “Interiors Pakistan” international exhibition at the Expo Center organised by Pakistan Furniture Council (PFC), Dawood on Sunday said that inflation was a very big issue and the government was trying to control it.

    He said that no timeframe could be given in this regard, however, “prices of food items will soon be controlled”. “The price of dollar has stabilised, fluctuation has been brought under control,” Dawood maintained, adding that escalating prices will be controlled with the efforts of the government in near future.